The summer is here and for many of us that means we’re headed to the backyard pool!
Many homeowners wonder how their pool effects the valuation of their home. Does it add to the value? Does it hurt? Can it be included at all in the consideration?
The short answer to these questions is yes, swimming pools can add value to a home. But there are factors that determine to what extent, if at all. Generally speaking, inground pools are more likely to be valued vs. above ground pools (this is because above ground pools are considered temporary and removable structures). When determining what value, if any, an inground pool adds to a home’s value, the appraiser looks at many factors including:
After consideration, the appraiser will determine what value the pool adds to your home. Keep in mind that buyers are going to have varying opinions on the appeal of a pool. Some may be actively looking for a home with one, and others may be more hesitant due to factors such as maintenance costs, liability, and personal interest.
If you have a pool, remember to practice water and pool area safety guidelines! Enjoy the warm weather we’ve got headed our way!